Altaba Inc. was a non-diversified, closed-end management investment company based in New York City that was formed from the remains of Yahoo! Inc. after Verizon acquired Yahoo’s Internet business. Verizon completed its acquisition on June 13, 2017, and put the assets under a new subsidiary named Yahoo! Holdings within its newly created division, Oath now Verizon Media. After the transaction, Yahoo! Inc. had no operating business but retained its cash holdings, partnership investments and bond portfolio, as well as certain patents that Verizon did not purchase. It reorganized as an investment fund and changed its name to Altaba Inc. on June 16. The only Yahoo! – branded interest held by Altaba was its stake in the joint venture Yahoo! Japan, which it sold to the SoftBank Group in late 2018.